Neco 2023 Commerce Question 45

Practice objective / multiple choice question 45 from the 2023 Neco Commerce examination.

Neco 2023 Commerce Objective / Multiple Choice Easy Difficulty
Question 45 NECO • 2023 • COMMERCE • objective

A retailer purchases 200 units of a home appliance at ₦12,500 each. He pays a sales tax of \(5\%\) on the total purchase cost. He sells each unit at a \(30\%\) profit on the cost price (excluding tax). Find (a) the total revenue from selling all units and (b) his net profit after accounting for the tax.

Answer Options

A. Total revenue = ₦3,412,500; Net profit = ₦787,500
B. Total revenue = ₦3,250,000; Net profit = ₦750,000
Correct Answer C. Total revenue = ₦3,250,000; Net profit = ₦625,000
D. Total revenue = ₦3,250,000; Net profit = ₦587,500
Correct Answer
C
Correct Option:
Total revenue = ₦3,250,000; Net profit = ₦625,000

About This Question

This is Neco 2023 Commerce Question 45. It is one of the objective questions from the 2023 Neco Commerce examination.

Difficulty level: Easy .

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